WSP buys property and infra businesses from Capita

Grant Prior 3 years ago
Share

Capita has agreed to sell two real estate and infrastructure consultancy businesses to WSP for £60m.

The move will see new owners for Capita Real Estate and Infrastructure (REI) and GL Hearn (GLH).

REI provides specialist advisory, design, engineering, environmental and project management services for land, building and infrastructure owners.

GLH provides advice to real estate developers, investors and occupiers across areas including planning and development, rating, valuation and occupier services.

The reported revenue and profit before tax of the two businesses combined for the year to 31 December 2021 were £88.6m and £5.1m respectively. The combined gross assets were £124.2m at 31 December 2021.

The senior management teams and employees of both firms will remain with their businesses as they transfer to the ownership of WSP adding around 1,000 new staff to the company.

Capita previously announced its intention to sell a number of non-core businesses to strengthen the balance sheet and focus on its two core divisions, Capita Public Service and Capita Experience.

Mark Naysmith, CEO of WSP UK, Europe, Middle East and Africa said: “In line with our strategic ambitions, this acquisition will boost our expertise in our core markets, including transport, building, and environment.

“It will also help us to diversify our strategic advisory services into adjacent markets.”

Latest news

Breakthrough for HS2 as first Birmingham tunnel section dug

Balfour Beatty VINCI completes 3.5km TBM drive in 652 days drive
1 day ago

HS2 Curzon Street station redesign approved as timber roof axed

Change to meet stricter fire safety rules and cut maintenance costs
1 day ago

Care home fire trial collapses

Prosecution withdrawn against four firms including Morgan Sindall Property Services
2 days ago

Leicester rebids £22m station revamp after failed tender race

Council opts for ECI route after receiving one bid for project
1 day ago

Kier wins East Coast College rebuild job in Great Yarmouth

Work to start this summer for 1,300-student college
1 day ago

R G Carter wins £28m hospital car park job in King’s Lynn

MSCP paves way for £1.5bn Queen Elizabeth Hospital rebuild in 2027
1 day ago

London to relax green belt building rules

Sadiq Khan shifts position on planning
1 day ago

Willmott Dixon wins Great Yarmouth waterfront deal

North Quay 10.5 acres mixed-use scheme to advance
2 days ago

SIG chief quits to join Travis Perkins

Gavin Slark to leave by the end of this year
1 day ago

Eight take key spots on £250m Prosper framework

Housing and public building upkeep deal for North East awarded
2 days ago

Early call-out for £150m Ebbsfleet Garden City infrastructure

Bidders day to set out plan for Ebbsfleet Central commercial scheme
3 days ago

McLaren storms April contracts league with flurry of wins

Cardiff Bay Arena job headlines a series of big contract wins
2 days ago

Balfour Beatty lifts cash forecast after strong first quarter

Contractor set to hit £1bn average monthly net cash in 2025
2 days ago

Goldman Sachs-owned Adler & Allan buys 180-strong civils outfit

West Country's Glanville Environmental gets new owner
2 days ago

Caddick lands first contract for £200m Skelmersdale revamp

Developer gets green light for masterplan
2 days ago

Van Elle sells HGV fleet to haulage firm

WS Specialist Logistics pays £2.9m to take on fleet and drivers
2 days ago

Buyers more bullish about prospects for year ahead

Residential "resilient" but commercial work a weak spot
3 days ago

Council backs first Brutalist car park-to-flats scheme

Newcastle-under-Lyme multi-storey car park to be reborn as pioneering homes scheme
3 days ago

Hinkley Point C hits peak build with 26,000 jobs

3,000 more workers to join as fit-out work ramps up
3 days ago

Over 40 firms win Wessex Water M&E minor works deal

Broad sweep of specialists picked for AMP8 programme
3 days ago

Spencer lands Scottish bridge hat-trick

Steelwork, gantries and bearing upgrades on Kessock, Forth and Tay crossings
4 days ago

Winners revealed for £1.5bn decarbonisation deal

Fusion21 confirms places for 40 firms: Full list
3 days ago

Cladding firm fined £225,000 after fatal fall

Court hears how cherry picker didn't reach all parts of repair job
3 days ago

Completed buildings caught-up in Gateway 2 chaos

Developer distraught after dealing with Building Safety Regulator
4 days ago

Aviva submits plans for 34-storey City office tower

Subject to planning work to start in autumn 2027
4 days ago

Murphy takes 40% stake in Aussie civils contractor

Firm enters Australasian market with stake in Sydney-based contractor Abergeldie
5 days ago

Moat seeks firm for £420m repairs and maintenance deal

15-year deal to upkeep 20,000 south east homes
4 days ago

Lynch takes over hotel for Sizewell plant operators

Hire giant now in the hotel business to guarantee accommodation for workers
4 days ago

Subcontractors wanted across Scotland

Latest Constructionline event in Glasgow: Register now
4 days ago

Six guilty of £2m bribery over Devon housing site deals

Corrupt building bosses and E.ON project chief and QS sentenced
1 week ago

Contractor services